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(Sharecast News) - Eden Research said on Wednesday that it has secured regulatory approval in France to extend the label for its Mevalone biopesticide for use on grapes to control downy and powdery mildew, opening up a significant new commercial opportunity in one of the world's largest vineyard markets.
The AIM-traded biopesticide group said French authorities had approved Mevalone for use on grapes, subject to customary restrictions.
It said France has more than 780,000 hectares of vines and is among the countries most affected by downy mildew, with recent severe outbreaks in 2023 and 2024 cutting harvests in Bordeaux and other regions by up to a fifth or more.
Eden Research said the approval came as structural changes reshaped the French crop protection market.
Climate-driven increases in mildew pressure, tighter regulatory constraints on copper-based and synthetic fungicides, and continued growth in organic viticulture were reportedly driving demand for alternative crop protection solutions.
It said the French biopesticides market was estimated to exceed $200m in 2025 and was projected to grow strongly through to 2030, with grapes representing a key segment due to persistent disease pressure and strict pesticide regulation.
The company estimated that, based on current label extension conditions relating to application timing, the potential peak revenue opportunity could reach up to 8m per annum.
However, Eden said it was not changing its market guidance at this stage, citing the timing of the approval and the industry's seasonal marketing and stocking cycle, and would review expectations as the growing season progressed.
"With France recently having tightened rules on copper fungicides, revoking approval for many formulations and leaving only a small number of authorised copper products under stricter conditions, the approval of this label extension for Mevalone is timely, creating a significant opportunity for Eden in the coming years," said Sean Smith, chief executive officer of Eden Research.
"In addition, organic vineyard area has continued to increase with approximately one-fifth of French vineyard land now farmed organically, exceeding the national agricultural average and reinforcing demand for alternative solutions such as Mevalone, which is already certified as organic."
At 1342 GMT, shares in Eden Research were up 13.33% at 3.06p.
Reporting by Josh White for Sharecast.com.